Saudi Aramco and Iwatani Corporation sign amendment to existing MoU to further enhance liquefied petroleum gas (LP Gas) emergency relief program

Saudi Aramco and Iwatani Corporation today signed an amendment to an existing memorandum of understanding (MoU) to further enhance the liquefied petroleum gas (LP Gas) emergency relief program introduced in 2009.

The agreement was signed in conjunction with HRH Deputy Crown Prince Mohammad Bin Salman’s visit to Japan.

Signing on behalf of Saudi Aramco was its Vice President of International Operations, Said Hadrami while signing on behalf of Iwatani Corporation was its Senior Executive Director and Executive Office Takashi Funaki.

Under the MoU, both companies agree to amend and incorporate new terms and conditions under the original memorandum signed in March 2009, primarily to accommodate fund re-injection for the program. This is the second amendment made by both companies, succeeds the first amendment in March 2015.

The purpose of the LP Gas emergency relief program is to provide, as emergency relief items, gas canisters and portable gas stoves to areas affected by a large-scale natural disaster in Japan. The program is operated in Japan by Iwatani Corporation and Aramco Asia Japan on behalf of Saudi Aramco.

Gas canisters and portable gas stoves are extremely valuable emergency relief items for areas affected by disaster and with their lifelines cut off. In past disasters they have provided an invaluable source of heat for affected areas while waiting for the lifelines to be restored.

The program will provide this emergency relief when requested by the emergency response headquarters of local government bodies affected by a large-scale natural disaster such as a typhoon or earthquake.

Iwatani Corporation is one of Japan’s largest importers of LP Gas and holds the number one share of the Japanese hydrogen market, as well as the number one share of the helium market.